Save Sage Lands ₹4 Cr Deal on Shark Tank India for Credit Card Points Hack
Overview
Fintech startup Save Sage secured ₹4 crore in investment on Shark Tank India Season 5. The platform helps users maximize credit card reward points for travel and shopping. Founder Ashish Lath demonstrated how strategic use of points yielded over 430 free flights and ₹15 lakh in jewellery, claiming up to 23% value back on spending. The deal values the company at ₹44.4 crore.
Investment Secured
Personal finance startup Save Sage has landed a significant ₹4 crore investment on Shark Tank India Season 5. The deal came after the company demonstrated its innovative approach to maximizing credit card reward points.
Revolutionizing Reward Points
Founded by Ashish Lath, Save Sage tackles the common issue of credit card users not fully leveraging their reward points. The platform guides users in selecting optimal credit cards, tracking accumulated points, and redeeming them effectively for travel and shopping benefits. Lath's personal success story highlighted the system's potential, detailing how he and his wife accumulated over 430 free flights and 100 free hotel nights, along with ₹15 lakh worth of jewellery, solely through strategic reward point utilization. He asserted this method recovered nearly 23% of his spending value.
Market and Deal Dynamics
With India's 11 crore active credit card base, many users underutilize or forget about their points. Save Sage aims to simplify this by offering clear guidance on card usage and redemption before points expire. Lath initially sought ₹1 crore for 1% equity, valuing the company at ₹100 crore. While Aman Gupta opted out, citing available online information, the other Sharks recognized Save Sage's organized and user-friendly solution. Ultimately, Anupam Mittal, Kunal Bahl, Mohit Yadav, and Namita Thapar agreed to a ₹4 crore investment for 9% equity, valuing Save Sage at approximately ₹44.4 crore.
